Mahindra & Mahindra's SsangYong acquisition is almost done, pays $ 463 million for 70% authority

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Mahindra & Mahindra (M&M) Indian leading SUVs maker on 23 Nov said it has signed a definitive agreement with Korean(South) Automaker SsangYong Motor Company (SYMC) to acquire 70 percent stake for $463 million which include $378-million of new SsangYong stocks and $85-million of SsangYong bonds.

M&M said it acquisition may be done by end of March 2011.

Recently, Mahindra & Mahindra (M&M) has received a green signal from the court in Seoul and the company has also reached to an agreement with the SsangYong labour union.

Mahindra & Mahindra's SsangYong acquisition is almost done, pays $ 463 million for 70% authority